Why Are Companies Giving Out Credit Cards Like Candies?
By Muelitz
@Muelitz (1592)
Canada
August 31, 2008 3:09pm CST
Several years ago in my former country, it was very very hard to get a credit card. 
You have to submit a copy of your payslip or income tax return to be able to get one. But now as if you are always pre-approved.
In my 4 months stay here in Canada, I already got 3-4 credit cards that I seldom use. DO you know why they give it out to you without background checks such as your capacity to pay? Just curious
You have to submit a copy of your payslip or income tax return to be able to get one. But now as if you are always pre-approved. In my 4 months stay here in Canada, I already got 3-4 credit cards that I seldom use. DO you know why they give it out to you without background checks such as your capacity to pay? Just curious1 person likes this
3 responses
@goldeneagle (6743)
• United States
31 Aug 08
It is simple...they know that most people are not disciplined enough not to use it. They know most people are going to max it out and be locked into high-interest debt for years, so the card companies get rich. Of course they are going to give a card to anyone who wants it.
@AndrewFreyne (6281)
• United Kingdom
31 Aug 08
Why Are Companies giving Out Credit Cards Like Candies? I think that this is a very bad practice! I have had several credit cards in the past and, unfortunately for me I am now in serious debt! when you receive these credit card letters through the post saying that you have been selected to receive a certain credit card, they make you feel as though you are so important, like you are special and you are now privileged to be offered this credit card! This is a joke and I'm sure that they get off on it! Because of that silly decision I made back in 2002 I won't be debt-free for another five years, ouch! I'm really hurting here! So I guess the rule of the game is not to be so vulnerable as I was back then! I think I'm a whole lot more hard-hearted now when it comes to credit cards. I'm a nice person otherwise!! Andrew
@3cardmonte (5098)
•
31 Aug 08
normally companies like this have extortionate rates so you end up paying back a fortune, they want to make as much cash as they can out of people. I have had several of these recently and thrown them all away, however when i did decide to get one, i went to my bank and they turned me down!
